MONETARY CONTROL.
UNITED STATES GOLD REGULA-
TIONS
PRESIDENT FIXES PRICES.
WASHINGTON, Sept. 8. Under the President’s gold regulations the Treasury Department to-day fixed the price of newly-minted gold at 29.62 dollars an ounce, with the gold-standard value of 20.67 dollars. The President has ordered the Federal reserve banks to sell at that price to arts and crafts and foreign purchasers. The price will be readjusted daily if fluctuations in the world’s markets necessitate it.
According to a message from _ Reno (Nevada) Senator Pittman said tonight that President Roosevelt was considering a plan whereby the price of silver will be increased automatically to one dollar 19 cents an ounce. The plan provided for the issue by the President of an executive order directing United States mints to accept silver bullion from domestic producers and return minted coins at less than 10 cents an ounce for minting charges. Senator Pittman said he believed the question of the legality of the plan had been submitted to the Attorney-Gene- ? ral, but he did ndt known if an opinion had yet been given to the President.
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Bibliographic details
Manawatu Standard, Volume LIII, Issue 243, 11 September 1933, Page 7
Word Count
181MONETARY CONTROL. Manawatu Standard, Volume LIII, Issue 243, 11 September 1933, Page 7
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